Ripple is preparing for its stablecoin launch as it announces $10 million investment in tokenized US Treasury bills. Ripple’s bullish updates have failed to catalyze gains in XRP amidst the market-wide crypto correction. XRP hovers around key support at $0.50 as traders await Bitcoin recovery and SEC lawsuit ruling. Ripple shared several key updates in its Q2 2024 report.
90 close to the oversold zone, meaning there is an opportunity for sidelined traders to enter. XRP could target the $0.60 level in its rally, a 22% gain from the current price. XRP/USDT daily chart A daily candlestick close under $0.45 support could invalidate the bullish thesis and signal further correction in the altcoin. Bitcoin, altcoins, stablecoins FAQs What is Bitcoin? Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money.